IAC CEO and Vimeo Chairman of the Board Joey Levin stated… Wolfe, playwright, film and theater director
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Adam Gross, technology investor and software industry veteran.Joey Levin, chief executive officer, IAC (chairman of the board).Board of DirectorsĪdditionally, the company announced an entire board of directors specifically for the new spinoff company.
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Looking ahead, as an independent public company, we are well-positioned to keep innovating with urgency to expand our software suite and put the full power of video in the hands of every business and team in the world. This is a proud moment for Vimeo, but just the beginning. On the Vimeo stock spinoff, CEO Anjali Sud commented…Īs a video software solution serving more than 200 million professionals, teams and organizations, Vimeo is making professional-quality video far easier and more effective than ever before. That’s because it’s the go-to platform for local shops and Fortune 500 businesses alike. The company claims it’s positioned to take advantage of the growing market. Vimeo expects the SaaS market to be worth $70 billion by 2024. Additionally, Vimeo went from a net loss of $20.3 million in 2020 to net earnings of $3.3 million in 2021. In the first quarter of 2021, that figure increased to $89.4 million for growth of 57%. In the first quarter of 2020, Vimeo recorded revenue of $57 million.
On May 5, 2021, Vimeo released its first quarter revenue report.
So it’s not surprising that IAC chose now to offer up Vimeo stock. And as the world begins to find its new normal post-COVID-19, video communication continues to be a popular media. Vimeo serves corporate companies, but also content creators and entrepreneurs. And the platform has over 100 billion video views. Additionally, Vimeo claims 350,000 new videos are added each day. These users are in more than 190 countries. Vimeo’s business model is software-as-a-service (SaaS).Īccording to Vimeo’s website, the platform has more than 200 million users and 1.6 million paid subscribers. Headquartered in New York City, the company aims to deliver high-definition video across a number of devices. Vimeo is an American video hosting, sharing and services platform. Zach Klein and Jake Lodwick founded Vimeo in 2004. Here are all the details on the Vimeo IPO. This isn’t the first time IAC has done this, and it likely won’t be the last. For those who haven’t heard, IAC (Nasdaq: IAC), the parent company of Vimeo, took the company public in a spinoff.
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